Spanish fishing, aquaculture and seafood processing giant Nueva Pescanova posted €80M ($85.9 million) in EBITDA in the fiscal year ending in March 2022, a figure more than twice that of the €39.5M ($42.4 million) in the previous year.
The company, which processes salmon and wild catch fish but does not own any salmon farms, saw a total turnover of €1,087 million ($1.16 million), growing by 21.4 percent compared to the same period of the previous year and by 4.4 percent compared to the pre-COVID year of 2019.
The Pontevedra, Spain-based group noted an improvement in sales in both retail, wholesale and the food service industry in all of its markets. Most notable increases were seen in the US market, Portugal, France and Greece.
It attributed the healthy EBITDA to better efficiency in aquaculture and fishing operations, cost control and the improvement of commercial margins.
The positive net result of the group was €7M ($7.5 million), improving by €31M ($33.3 million) compared to the previous year.